Bank OZK Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2018
January 17, 2019 at 04:01 pm
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Bank OZK reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported total interest income of $292,069,000 against $249,100,000 a year ago. Net interest income was $228,382,000 against $214,831,000 a year ago. Income before taxes was 153,778,000 against $149,588,000 a year ago. Net income was $115,028,000 or $0.89 per basic and diluted share against $146,154,000 or $1.14 per basic and diluted share a year ago.
For the year, the company reported total interest income of $1,100,820,000 against $932,593,000 a year ago. Net interest income was $891,433,000 against $817,429,000 a year ago. Income before taxes was 554,058,000 against $580,523,000 a year ago. Net income was $417,081,000 or $3.24 per basic and diluted share against $421,937,000 or $3.36 per basic and diluted share a year ago.
For the quarter, the company reported net charge-offs of $3,207,000 against $1,943,000 a year ago.
Bank OZK (the Bank) is a regional bank that provides a range of financial solutions. The Bank offers a range of products, including checking, savings, loans, mortgages, treasury management, merchant services, trust and estate services, wealth, and credit cards, among others. Its savings products include certificate of deposits, money market accounts, and individual retirement accounts. Its personal lending options include home equity lines of credit, personal lines of credit and auto loans. It offers both a fixed rate mortgage and an adjustable-rate mortgage. Its online banking enables users to manage their accounts, pay bills, transfer funds, view electronic account statements and others. The Bank also provides individual consultation, financial planning, trust, and investment management services. The Bank conducts banking operations with over 240 offices in eight states, including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California, and Mississippi.
Bank OZK Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2018